Tiemann Investment Advisors LLC Has $15.77 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Tiemann Investment Advisors LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,982 shares of the iPhone maker’s stock after selling 1,272 shares during the quarter. Apple comprises about 7.0% of Tiemann Investment Advisors LLC’s holdings, making the stock its largest position. Tiemann Investment Advisors LLC’s holdings in Apple were worth $15,772,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Drystone LLC bought a new position in shares of Apple in the fourth quarter worth $25,000. Life Planning Partners Inc purchased a new position in Apple during the fourth quarter worth about $47,000. SPX Gestao de Recursos Ltda purchased a new position in Apple during the third quarter worth about $71,000. Teachers Insurance & Annuity Association of America bought a new position in Apple in the 3rd quarter worth about $77,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple in the 4th quarter valued at about $82,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America cut their price objective on Apple from $250.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a report on Monday, May 12th. DA Davidson increased their target price on Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Argus upgraded Apple to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a $170.62 price target (up previously from $167.88) on shares of Apple in a research note on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.80.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Apple stock opened at $208.78 on Tuesday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.12 trillion, a P/E ratio of 33.14, a PEG ratio of 2.44 and a beta of 1.27. The stock’s 50 day moving average is $205.93 and its 200 day moving average is $226.57.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the company posted $1.53 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This is a positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio (DPR) is currently 16.20%.

Apple declared that its board has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.